August 6, 2026, 09:53 GMT (3:23 PM Sri Lanka local time)
A draft agreement between Iran and Oman would grant Tehran control over inbound maritime traffic into the Strait of Hormuz, one of the world’s most critical oil chokepoints. Sources familiar with the talks say the deal would allow Iranian authorities to oversee and regulate vessels entering the strait, while Oman would retain a role in outbound traffic.
Analysts warn this arrangement could significantly shift the balance of power in Gulf shipping, giving Iran leverage over nearly one‑fifth of global crude flows. Western officials are concerned the deal could be used to pressure energy markets or restrict access for adversarial nations.
Diplomatic reactions are mixed:
- Washington has expressed unease, calling the proposal destabilizing.
- Tehran frames the deal as a “security guarantee” to prevent escalation.
- Regional exporters fear higher insurance premiums and shipping costs if Iran gains effective gatekeeping authority.
Energy markets reacted cautiously, with Brent crude edging above $96 per barrel as traders priced in potential disruption.
(Source – Reuters)
—Agencies
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